DASH/USDT Technical Correction: Triangle Breakdown and Recovery Zones

DASH has experienced a notable pullback from its $150 peak, with the price action forming a distinctive descending triangle pattern before breaking lower. This breakdown triggered substantial liquidation across positions, pushing the asset down to the critical support zone between $65–$67, a level reinforced by historical consolidation activity and serving as a major demand concentration area.

Current Market Structure

At the recent data snapshot, DASH is trading around $70.60 with a +5.29% intraday recovery, suggesting early buying interest near oversold conditions. The RSI indicator, which had compressed into oversold territory around 35, is now rising and showing signs of momentum restoration—a classic signal that selling pressure may be exhausting. However, the downward-sloping EMA continues to dominate the larger timeframe, confirming the prevailing bearish structure remains intact unless DASH achieves a decisive recapture of key resistance.

The Descending Triangle Blueprint

The descending triangle that preceded this breakdown reveals a textbook distribution pattern: sellers consistently capped rallies at incrementally lower levels while buyers maintained the lower boundary. When the formation’s floor cracked, it confirmed the sellers had seized control, leading to the sharp decline into support. This is a critical technical validation—triangle breakdowns typically indicate directional conviction once the setup is compromised.

Critical Levels for Traders

Resistance & Recovery Targets:

• Primary target: $82–$90 (coincides with the EMA recovery zone and former support converted to resistance)
• This zone represents the next meaningful ceiling after the current bounce attempt

Support Floor:

• $64 (just below the recent low, providing a hard floor for stop-losses)
• Failure to hold this level opens the door toward $55 and deeper losses

Trading Scenario & Outcome Paths

Bullish Case: If DASH buyers maintain conviction and break above the $75–$77 intermediate zone decisively, a retracement rally back toward the $90 level becomes probable. This would represent profit-taking off the recent lows before the next directional impulse.

Bearish Case: If momentum falters and the $65 support fractures, sellers regain the initiative, and the move could extend down toward $55, wiping out further stop-losses and establishing new lows.

The near-term outcome hinges on whether the current recovery can convince buyers to hold, or if sellers step in at the mid-range resistance to reassert control.